Republic of Madagascar: Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Activation of the Trade Integration Mechanism—Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Republic of Madagascar
August 16, 2006
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Madagascar is one of the poorest countries in sub-Saharan Africa, ranking 146 out of 177 on the United Nations Human Development Index. The country has one of the lowest tax revenue-to-GDP ratios in the world (10.1 percent in 2005). To address these challenges, the authorities are requesting a new three-year arrangement under the Poverty Reduction and Growth Facility (PRGF) to support their economic program for 2006–08. Broad money growth declined sharply in 2005, but credit to the private sector was strong. The banking system is profitable and well capitalized.
Subject: Banking, Budget planning and preparation, Credit, Expenditure, External debt, Public financial management (PFM), Revenue administration
Keywords: Africa, authority, budget, Budget planning and preparation, CR, development expenditure, government regulation, ISCR, monetary policy, poverty reduction expenditure, rate regime, Southern Africa, staff appraisal, Sub-Saharan Africa
Pages:
125
Volume:
2006
DOI:
Issue:
306
Series:
Country Report No. 2006/306
Stock No:
1MDGEA2006004
ISBN:
9781451825404
ISSN:
1934-7685
